Hedge Funds

Michael Dell targets cash at hedge fund start-ups

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Hedge fund returns may be sagging a fair bit in 2005, but that's not stopping computer magnate Michael Dell from targeting more of his cash at the sector.

The New York-based MSD Family Office, which has focused on venture capital, private equity and real estate since its formation in the late-1990s, recently created a new fund, SkyBridge Capital. The fund, to be run by Andy Klein and Anthony Scaramucci, will take a venture approach to investing in hedge funds by placing bets on start-up managers.

The family office's targeting of new managers is notable in that many industry